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IBM nears $5 billion deal for software provider Apptio - WSJ

Published Jun 23, 2023 07:58PM ET Updated Jun 23, 2023 09:40PM ET
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© Reuters. FILE PHOTO: The International Business Machines Corporation (IBM) logo is displayed, during the GSMA's 2023 Mobile World Congress (MWC) in Barcelona, Spain March 1, 2023. REUTERS/Nacho Doce
 
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(Reuters) -IBM is nearing a deal to acquire software company Apptio for about $5 billion, the Wall Street Journal reported on Friday, citing people familiar with the matter.

A deal between the companies could be completed over the weekend, the Journal reported, adding that it was unclear whether the purchase price includes debt.

IBM (NYSE:IBM) declined to comment on the report. Apptio did not immediately respond to Reuters request for comment.

Apptio, taken private by Vista Equity Partners in 2018 for $1.94 billion, provides products including cloud-based and hybrid business management software, a possible asset for technology giant IBM.

The deal follows IBM's 2021 purchase of software provider Turbonomic for over $1.5 billion and its 2019 acquisition of software company Red Hat for $34 billion.

IBM nears $5 billion deal for software provider Apptio - WSJ
 

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Derick Lim
Derick Lim Jun 24, 2023 5:58AM ET
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Buy the rumours sell the news
 
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